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Start Free TrialIndustrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 Schedule I
Title: The Schedule
State: Central
Year: 2003
.....shall be substituted, namely: '(h) "industrial concern in the small scale sector" means any concern engaged or to be engaged in, (i) the manufacture, preservation or processing of goods; (ii) shipping; (iii) mining including development of mines; (iv) the hotel industry; (v) the transport of passengers or goods by road or by water or by air or by ropeway or by lift; (vi) the generation, storage or distribution of electricity or any other form of energy; (vii) the maintenance, repair, testing or servicing of machinery or equipment of any description or vehicles or vessels or motor boats or trailers or tractors; (viii) assembling, repairing or packing any article with the aid of machinery or power; (ix) the setting up of, or development of, an industrial area or an industrial estate; (x) fishing or providing shore facilities for fishing or maintenance thereof; (xi) providing special or technical knowledge or other services for the promotion of industrial growth; (xii) providing engineering, technical, financial, management, marketing or other services or facilities for industry; (xiii) service industry such as altering, ornamenting, polishing,.....
View Complete Act List Judgments citing this sectionTaxation Laws (Amendment) Act, 2003 Chapter II
Title: Amendments to the Income-tax Act, 1961
State: Central
Year: 2003
.....the total income of the assessee: Provided that where in computing the total income of the undertaking for any assessment year, deduction under section 10A or section 10B has been claimed, the undertaking shall not be entitled to the deduction under this section: Provided further that no deduction under this section shall be allowed to any undertaking for the assessment year beginning on the 1st day of April, 2010 and subsequent years. (2) This section applies to any undertaking which fulfils the following conditions, namely:-- (a) it manufactures or produces the eligible articles or things without the use of imported raw materials; (b) it is not formed by the splitting up, or the reconstruction, of a business already in existence: Provided that this condition shall not apply in respect of any undertaking which is formed as a result of the re-establishment, reconstruction or revival by the assessee of the business of any such undertaking as is referred to in section 33B, in the circumstances and within the period specified in that section; (c) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose. .....
View Complete Act List Judgments citing this sectionTaxation Laws (Amendment) Act, 2003 Section 9
Title: Amendment of Section 206c
State: Central
Year: 2003
.....in the prescribed manner to the effect that the goods referred to in column (2) of the aforesaid Table are to be utilised for the purposes of manufacturing, processing or producing articles or things and not for trading purposes. (1B) The person responsible for collecting tax under this section shall deliver or cause to be delivered to the Chief Commissioner or Commissioner one copy of the declaration referred to in sub-section (1A) on or before the seventh day of the month next following the month in which the declaration is furnished to him."; (c) in sub-section (3), for the words "seven days", the words "the prescribed time" shall be substituted; (d) in sub-section (5), for the words "ten days from the date of debit", the words "such period as may be prescribed from the time of debit" shall be substituted; (e) in sub-section (7), for the words "one and one-fourth per cent.", the words "one per cent." shall be substituted; (f) in the Explanation occurring at the end, in clause (a), for sub-clauses (i) and (ii), the following sub-clauses shall be substituted, namely:-- "(i) a public sector company, the Central Government, a State Government, and an embassy, a high.....
View Complete Act List Judgments citing this sectionFinance Act, 2003 Chapter III
Title: Direct Taxes
State: Central
Year: 2003
.....of April, 2004, namely:-- 'Explanation 2.--For the removal of doubts, it is hereby declared that "business connection" shall include any business activity carried out through a person who, acting on behalf of the non-resident,-- (a) has and habitually exercises in India, an authority to conclude contracts on behalf of the non-resident, unless his activities are limited to the purchase of goods or merchandise for the non-resident; or (b) has no such authority, but habitually maintains in India a stock of goods or merchandise from which he regularly delivers goods or merchandise on behalf of the non-resident; or (c) habitually secures orders in India, mainly or wholly for the non-resident or for that non-resident and other non-residents controlling, controlled by, or subject to the same common control, as that non-resident: Provided that such business connection shall not include any business activity carried out through a broker, general commission agent or any other agent having an independent status, if such broker, general commission agent or any other agent having an independent status is acting in the ordinary course of his business: Provided further that where.....
View Complete Act List Judgments citing this sectionFinance Act, 2003 Section 87
Title: Amendment of Section 206c
State: Central
Year: 2003
.....sub-clauses shall be substituted, namely:-- "(i) a public sector company; or (ii) a buyer in the retail sale of such goods obtained in pursuance of such sale;"; (B) for clause (b), the following clauses shall be substituted, namely:-- '(b) "scrap" means waste and scrap from the manufacture or mechanical working of materials which is definitely not usable as such because of breakage, cutting up, wear and other reasons; (c) "seller" means the Central Government, a State Government or any local authority or corporation or authority established by or under a Central, State or Provincial Act, or any company or firm or cooperative society and also includes an individual or a Hindu undivided family whose total sales, gross receipts or turnover from the business or profession carried on by him exceed the monetary limits specified under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which the goods of the nature specified in the Table in sub-section (1) are sold'.
View Complete Act List Judgments citing this sectionFiscal Responsibility and Budget Management Act 2003 Section 3
Title: Fiscal Policy Statements to Be Laid Before Parliament
State: Central
Year: 2003
.....market borrowings and other liabilities, lending and investments, pricing of administered goods and services, securities and description of other activities such as, underwriting and guarantees which have potential budgetary implications; (b) the strategic priorities of the Central Government for the ensuing financial year in the fiscal area; (c) the key fiscal measures and rationale for any major deviation in fiscal measures pertaining to taxation, subsidy, expenditure, administered pricing and borrowings; (d) an evaluation as to how the current policies of the Central Government are in conformity with the fiscal management principles set out in section 4 and the objectives set out in the Medium-term Fiscal Policy Statement. (5) The macro-economic framework statement shall contain as assessment of the growth prospects of the economy with specification of underlying assumptions. (6) In particular and without prejudice to the generality of the foregoing provisions the macro-economic framework statement shall contain an assessment relating to-- (a) the growth in the gross domestic product; (b) the fiscal balance of the Union Government as reflected in the revenue.....
View Complete Act List Judgments citing this sectionElectricity Act, 2003 Part X
Title: Regulatory Commissions
State: Central
Year: 2003
.....that the State Electricity Regulatory Commission, established by a State Government under section 17 of the Electricity Regulatory Commissions Act, 1998 and the enactments specified in the Schedule, and functioning as such immediately before the appointed date, shall be the State Commission for the purposes of this Act and the Chairperson, Members, Secretary, and officers and other employees thereof shall continue to hold office, on the same terms and conditions on which they were appointed under those Acts: PROVIDED FURTHER that the Chairperson and other Members of the State Commission appointed, before the commencement of this Act, under the Electricity Regulatory Commissions Act, 1998 or under the enactments specified in the Schedule, may, on the recommendations of the Selection Committee constituted under sub-section (1) of section 85, be allowed to opt for the terms and conditions under this Act by the concerned State Government. (2) The State Commission shall be a body corporate by the name aforesaid, having perpetual succession and a common seal, with power to acquire, hold and dispose of property, both movable and immovable, and to contract and shall, by the.....
View Complete Act List Judgments citing this sectionElectricity Act, 2003 Section 78
Title: Constitution of Selection Committee to Recommend Members
State: Central
Year: 2003
.....from amongst persons holding the post of Chairperson or Managing Director, by whatever name called, of any public financial institution specified in section 4A of the Companies Act, 1956 (1 of 1956). (3) For the purposes of clause (e) of sub-section (1), the Central Government shall, by notification, nominate from amongst persons holding the post of Director or the head of the institution, by whatever name called, of any research, technical or management institution for this purpose. (4) Secretary-in-charge of the Ministry of the Central Government dealing with Power shall be the Convenor of the Selection Committee. (5) The Central Government shall, within one month from the date of occurrence of any vacancy by reason of death, resignation or removal of a Member of the Appellate Tribunal or the Chairperson or a Member of the Central Commission and six months before the superannuation or end of tenure of the Member of the Appellate Tribunal or Member of the Central Commission, make a reference to the Selection Committee for filling up of the vacancy. (6) The Selection Committee shall finalise the selection of the Chairperson and Members referred to in sub-section (5).....
View Complete Act List Judgments citing this sectionElectricity Act, 2003 Section 80
Title: Central Advisory Committee
State: Central
Year: 2003
(1) The Central Commission may, by notification, establish with effect from such date as it may specify in such notification, a Committee to be known as the Central Advisory Committee. (2) The Central Advisory Committee shall consist of not more than thirty-one-members to represent the interests of commerce, industry, transport, agriculture, labour, consumers, non-governmental organisations and academic and research bodies in the electricity sector. (3) The Chairperson of the Central Commission shall be the ex officio Chairperson of the Central Advisory Committee and the Members of that Commission and Secretary to the Government of India in charge of the Ministry or Department of the Central Government dealing with Consumer Affairs and Public Distribution System shall be the ex officio Members of the Committee.
View Complete Act List Judgments citing this sectionElectricity Act, 2003 Section 87
Title: State Advisory Committee
State: Central
Year: 2003
(1) The State Commission may, by notification, establish with effect from such date as it may specify in such notification, a Committee to be known as the State Advisory Committee. (2) The State Advisory Committee shall consist of not more than twenty-one members to represent the interests of commerce, industry, transport, agriculture, labour, consumers, non-governmental organisations and academic and research bodies in the electricity sector. (3) The Chairperson of the State Commission shall be the ex officio Chairperson of the State Advisory Committee and the Members of the State Commission and the Secretary to State Government in charge of the Ministry or Department dealing with Consumer Affairs and Public Distribution System shall be the ex officio Members of the Committee.
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